WV HB2547

Increases the allowable amount for calculating supplemental pension cost-of-living adjustments from the first $15,000 to the first $45,000 of total annual benefits

Applies to retirees, surviving beneficiaries, and disability pensioners from municipal police, firefighter, waterworks, and sewage system pension funds

Cost-of-living increases remain capped at 4% per year, based on the consumer price index

The 4% cap may be lifted if accumulated supplemental benefits fall below 75% of the accumulated consumer price index increase over the same period

Retirees must wait two years from retirement date before becoming eligible for supplemental pension benefits (those who retired before the original law's effective date are exempt from this waiting period)